Archives for March 2017
Welcome to a new Technical Analysis blog series. This series will comprise 25 introductory articles covering all aspects of technical analysis, from the very basics through to some more advanced theory. Hopefully, these articles will whet your appetite for the subject and inspire you to take up technical analysis (if you haven’t already) and use it in your trading and investing. My aim is to enhance your existing knowledge and give you an insight into how technical analysis can be used as an effective trading tool, both to make and save you money and give you new roads to follow. This is a vast, often misunderstood subject, so the aim of this blog series is to make it more accessible by breaking down a few of those boundaries.
In this first article we explore the roots of technical analysis. It is vitally important for you to understand where technical analysis has come from and the thinking behind it, if you’re ever going to successfully use it in practice. [Read more…]
Chart of the day: GBPUSD – Welcome to Article 50 day! Ahead of any announcement, a quick look at the FX pair. Unsurprisingly weaker leading into today’s events but action probably priced in? Should though anticipate that there will be some volatility. In the longer term weekly chart still bearish / range bound between 1.27 and 1.20 at lows. This mornings 15 minute chart shows prices coming off overnight but have now gone flat and stabilising around the 1.24 level.
Chart of the day: WTI hovering and trading menacingly around the early $47 area. Fundamentals: Russia threatening $40 barrel, US drilling up, uncertainty around OPEC production cuts. Technicals: holding below the cloud & strong Fibonacci areas to the downside at $45 then $42. Fibonacci upside at $50, $52.